Data and Financial Journalist
With the financial turmoil all across economies, Brazil, Russia, India, China and South Africa( popularly known as BRICS) remain the largest contributor in the world’s GDP i.e. 25% of global GDP and also 40% of the world’s population. With the recent meet in Durban, many contrast views have been expressed regarding to the aims and objectives of BRICS and whether it will be big as G7 by 2025 This article highlights a review on the same and its comparison to the Euro zone.
According to PwC’s report, UK will see a slip in its GDP’s ranking to 11th position in the world’s rankings. US, Japan, Germany, France and Italy has also been pushed down the league table but only UK and Italy lost out on the top ten slot. The same reports also predicted that China will soon overtake United States as the world’s largest economy in 2017. UK at present faces many issues that are being addressed but are they quick enough to make instant changes in the nation’s economy?
The suspense over whether Spain will seek a bailout is getting more clear as there are hints in the market that there could be a bailout deal. Madrid has successfully raised €4.6bn (£3.7bn) which is definitely oversubscribed and good news for Spain-a sign that investors are more confident the government can pay its bills.. The auction results…
The International Monetary Fund on Sunday strongly backed the European Central Bank’s plan to staunch the euro zone debt crisis with unlimited bond purchases, saying it was ready to get involved in designing and monitoring its implementation. The European Central Bank(ECB) announced its most promising plan on Thursday so as to ease the Euro-zone crisis…